This graph demonstrates the fluctuation in the number of active addresses for Bitcoin and Ethereum, the two leading cryptocurrencies. It reveals valuable insights into the current state of the market.
Represented by the red line, Ethereum, the world computer caught up with Bitcoin in 2018, a mere three years after its inception. Both blockchain users' numbers increased during bull runs and decreased in bear markets.
In 2023, despite the significant surge in the price of crypto assets, the active user number remained relatively stable at around 800k. This suggests there are not many new users entering this industry, the influx of capital may come from old users and some big players.
059 - jaken - 28/12/2023
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